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Statoil officially opens Valemon gas field in North Sea

Statoil has said Norwegian petroleum and energy minister Tord Lien is opening the Valemon gas and condensate field in the North Sea today.

Expected recoverable reserves from the field are 192 million barrels of oil equivalent, Statoil said on its website.

Condensate from Valemon will be piped to Kvitebjørn for processing and then forwarded to Mongstad, while the gas will be transported to Heimdal for processing and then sent to the market.

“Valemon is thereby extending the life of Heimdal, which was scheduled to be shut down in 2014, as a gas hub in this part of the North Sea,” said Arne Sigve Nylund, executive vice president for Development & Production Norway, according to Statoil.